On January 15, 2020 Celltrion reported the company’s vision for the next decade at the 38th Annual J.P. Morgan Healthcare Conference in San Francisco, USA (Press release, Celltrion, JAN 15, 2020, View Source [SID1234553240]). Celltrion’s Chairman Jung Jin Seo outlined the company’s strategic transition: Celltrion expects to transform from a ‘first mover’ to a ‘game changer’ by 2030.
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Celltrion’s strategy is anticipated to differentiate the company in the biosimilars landscape, building on its existing portfolio of treatments, including value added medicines or bioinnovatives such as Remsima SC, the world’s first subcutaneous formulation of infliximab. Remsima SC has the potential to offer an alternative personalised and convenient treatment option and was approved by the European Commission for patients with rheumatoid arthritis in November 2019. Celltrion Healthcare, the distribution arm of Celltrion, has also applied for a further extension to the marketing authorization of Remsima SC, to include the inflammatory bowel disease indication. This approval decision is expected in mid-2020.
Jung Jin Seo, Celltrion’s Chairman, said ‘‘Celltrion boasts a strong and dynamic product portfolio and pipeline. As we chart the company’s 2030 vision, the company hopes to launch one biosimilar product every year, reaching a total number of 18 products by 2030. Biosimilars and value added medicines which we call ‘bioinnovatives’ (innovative biosimilars) are set to be our key growth drivers in 2020. We plan to enter the new drugs and ubiquitous-healthcare business sector towards 2030."
Celltrion expects a number of significant factors will positively influence biosimilar uptake and the company’s growth in the coming years, including healthcare budgetary pressures; growing demand for low-cost alternative medicines and an increase in prescriptions for biologics. These factors have played a role in the growth of the biosimilar industry in recent years. Celltrion’s Chairman highlighted that increasingly positive sentiment from key stakeholders has contributed to Celltrion Healthcare’s growth in sales over the course of 2019 and is set to continue.
As demonstrated by the findings of a recent report from healthcare consulting firm IQVIAi, the company’s market share in major European markets has continued to grow. Remsima, the world’s first approved monoclonal antibody biosimilar has continued to overtake the market share of its reference drug, Janssen’s Remicade, with Remsima owning 59% of the market. Celltrion has also seen growth in the uptake of its rituximab biosimilar, Truxima and trastuzumab biosimilar, Herzuma, with their market shares reaching 38% and 15% respectively. These figures place Truxima and Herzuma as the leading biosimilars in terms of market share within the rituximab and trastuzumab markets.
Ho Ung Kim, Head of the Medical and Marketing Division at Celltrion Healthcare said, "As a ‘first mover’, Celltrion Healthcare has gained extensive experience in the biopharmaceutical field and is now ready to initiate a direct sales model. Celltrion Healthcare has set up its own sales network and overseas offices in 14 countries throughout Europe to secure price competitiveness, and strives to lead the global tumour necrosis factor alpha (TNF-α) inhibitors market with its innovative infliximab Remsima SC, which is projected to be worth approximately $50 billion."
As Celltrion enters the next decade, its ambitions reach beyond biosimilars and into new drug development. At the conference, Jung Jin Seo also outlined the company’s new drug development plan which is set to combine new platform technology and drug repositioning. This platform technology – the Antibody Delivery Enhancing Domain – is designed to increase the delivery efficiency of antibody-drug conjugates and their cell penetration, which has the potential to enhance cancer treatments. The company is set to create a new paradigm following innovation trends throughout the healthcare sector from 2020 to 2030.